Ironwood Investment Counsel LLC Grows Stake in JPMorgan Chase & Co. (NYSE:JPM)

Posted by on Apr 26th, 2023

Ironwood Investment Counsel LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,826 shares of the financial services provider’s stock after acquiring an additional 1,194 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in JPMorgan Chase & Co. were worth $2,927,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sittner & Nelson LLC lifted its stake in shares of JPMorgan Chase & Co. by 9.5% during the 4th quarter. Sittner & Nelson LLC now owns 16,224 shares of the financial services provider’s stock valued at $2,176,000 after buying an additional 1,408 shares in the last quarter. Windsor Group LTD lifted its stake in shares of JPMorgan Chase & Co. by 1.6% during the 4th quarter. Windsor Group LTD now owns 9,775 shares of the financial services provider’s stock valued at $1,348,000 after buying an additional 157 shares in the last quarter. Legacy Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 29.2% during the 4th quarter. Legacy Advisors LLC now owns 7,732 shares of the financial services provider’s stock valued at $1,037,000 after buying an additional 1,749 shares in the last quarter. AMJ Financial Wealth Management purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $253,000. Finally, Delta Financial Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 4.8% during the 4th quarter. Delta Financial Advisors LLC now owns 13,796 shares of the financial services provider’s stock valued at $1,850,000 after buying an additional 631 shares in the last quarter. 67.89% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 2.2 %

Shares of JPM opened at $137.67 on Wednesday. The firm’s 50-day moving average price is $134.67 and its 200-day moving average price is $133.07. The firm has a market capitalization of $403.57 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 2.04 and a beta of 1.10. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $144.34.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.69. The firm had revenue of $38.35 billion for the quarter, compared to analyst estimates of $35.77 billion. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.63 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 13.76 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.91%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s payout ratio is currently 29.52%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Credit Suisse Group increased their target price on shares of JPMorgan Chase & Co. from $155.00 to $160.00 in a research note on Tuesday, April 18th. Keefe, Bruyette & Woods increased their target price on shares of JPMorgan Chase & Co. from $131.00 to $155.00 and gave the stock a “market perform” rating in a research note on Monday, April 17th. Morgan Stanley increased their target price on shares of JPMorgan Chase & Co. from $153.00 to $157.00 and gave the stock an “overweight” rating in a research note on Monday, April 17th. The Goldman Sachs Group increased their target price on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a research note on Friday, April 14th. Finally, StockNews.com assumed coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $154.94.

About JPMorgan Chase & Co.

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JPMorgan Chase & Co is a financial holding company, which engages in providing financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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